New iPod Rumors Shine Apple Stock
August 29, 2007 at 2:18 PM (PT)
REUTERS reports that APPLE, Inc. shares rose more than 4.5% largely on the buzz emanating from a rumored launch of new iPod players.
Soon after APPLE sent out invites to a SEPT. 5th event in SAN FRANCISCO -- a type of event the company has used to introduce new or revamped products and services -- APPLE stock climbed $5.74 to $132.56. WALL STREET analyst firm GOLDMAN SACHS informed its clients that the date would bring "the almost certain launch of a new family of iPods...The product announcement is likely to include a full lineup of revamped iPods with significantly greater functionality at current price points, including the much-anticipated full-screen video iPod."
Obviously, the firm suggested its clients buy APPLE stock, while shares have already increased by about 55% this year, thanks to continued strong iPod sales and the launch of the iPhone.